“The budget for 2022 was supported by up to 15 parties. That has never happened before (…) We’ll continue! », Finance Minister María Jesús Montero cheered on Tuesday on Twitter.
With the approval of the budget, political stability in the fourth largest economy in the European Union is largely assured until the elections in autumn 2023. Only recently, in the face of difficult talks, it was not ruled out that Sánchez might suffer the same fate as his left-wing counterpart António Costa in Portugal. In the neighboring country, new elections were recently called for January 30th after the parliament in Lisbon rejected the budget plan.
At 240.375 billion euros, Spain will have the highest social spending in history, according to the Ministry of Finance. Large amounts are also made available for research, development, innovation and digitization. Real spending is expected to climb 0.6 percent to 458.97 billion euros. If the debt service is included, the total value drops by 4.2 percent compared to 2021 to 527.108 billion euros.